Finance

Alpha Investing

While many Americans are currently afraid to take risks, at least one financial adviser thinks that investors should go ahead and take some. He is David Urovsky, owner of Wealth Advisers Group and a supporter of alpha investing, a type of investment strategy based on taking risk to make a return that is above the expected. In addition to his quick wit and money-making advice, Urovsky has set an example for the next generation of financial advisers to follow.

Before becoming a professional in the field of investing, Urovsky had a humble beginning as an junior planner.“ In the beginning of my career, I worked for another financial planner,” Urovsky said. “He was more of a commission-based planner and I worked with him for several years. I decided to go out on my own because I thought I could do it better.”

Urovsky began expanding his knowledge in the mid 1990's, becoming familiar with assets under management, a system based on fees rather than commissions. In 2002, he officially formed his company and hit the ground running, looking for clients and major business deals. He admits his initial entry as a solo businessman wasn't easy. “In the beginning I didn't have a large book of business. I acquired another financial planners' business to help grow my assets.”

His secret to success is simpler than many may think: Urovsky's business is based mostly on referrals. Selective about the clients he works with, he makes sure that both he and his clients are on the same page when it comes to investing and financial goals. Urovsky likes to conduct an initial consultation as a “getting to know you” session and he uses an 8-point financial checkup.

“I look for someone who is trying to accomplish a goal rather than just manage money,” he said. “I also look for people I would enjoy working with. I want to know if it will be beneficial for us to work together.”

Urovsky has passion and drive for his business but says that there can be unique challenges as well. Sometimes, problems can arise with clients when they don't understand the details of the investments. “It's all about communication,” he said. “Communication starts up front in that first meeting. I ask clients what they want to accomplish and how much risk they want to take. I take the time to learn about the client and set realistic goals.”

In the future, Urovsky predicts that younger advisers will utilize more managed portfolios that offer alpha-type investing. “Compliance has become more cumbersome in managing portfolios. Managed portfolios offer professional money management without having to select and monitor all of the investments. It is easier to match clients and money managers from a suitability standpoint,” Urovsky said. He sees growth-oriented investments as becoming more attractive for growing assets and managing portfolios. 

For more information, please visit: www.wealthadvisorsgrp.com


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